Cash flows from operating activities | | | |
Profit before tax | | 12.1 | 11.9 |
Adjustments for: | | | |
— Depreciation, amortisation and impairment losses | 3.1, 3.2 | 61.0 | 60.1 |
— Movement in provisions | | 0.6 | 3.2 |
— Share of profit in joint venture | | (2.1) | (2.3) |
— Share-based payments charge | | 6.4 | 7.8 |
— Net Finance costs | 4.3 | 9.5 | 9.5 |
Changes in working capital: | | | |
— Movement in inventories | | (9.2) | (2.3) |
— Movement in trade and other receivables | | 2.5 | (19.1) |
— Movement in trade and other payables | | 25.2 | 23.7 |
Cash generated from operations | | 106.0 | 92.5 |
Interest paid | | (9.1) | (9.7) |
Net cash flows from operating activities | | 96.9 | 82.8 |
Cash flows from investing activities | | | |
Purchase of property, plant and equipment | | (85.3) | (70.7) |
Purchase of intangible assets | | (38.6) | (28.4) |
Dividend received from joint venture | | 8.4 | 8.1 |
Interest received | | 0.2 | 0.2 |
Net cash flows from investing activities | | (115.3) | (90.8) |
Cash flows from financing activities | | | |
Proceeds from the issue of ordinary share capital net of transaction costs | | 1.1 | 4.5 |
Proceeds from borrowings | | 61.3 | 8.2 |
Repayment of borrowings | | (11.5) | (5.6) |
Repayments of obligations under finance leases | | (26.4) | (26.9) |
Payment of financing fees | | (1.2) | (2.5) |
Settlement of cash flow hedges | | 0.2 | (0.2) |
Net cash flows from financing activities | | 23.5 | (22.5) |
Net increase/(decrease) in cash and cash equivalents | | 5.1 | (30.5) |
Cash and cash equivalents at the beginning of the period | | 45.8 | 76.3 |
Cash and cash equivalents at the end of the period | | 50.9 | 45.8 |